The 2011 Import and Export Market for Embroidery in Japan by ICONGroup


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									   The 2011 Import and Export
    Market for Embroidery in

                         Professor Philip M. Parker, Ph. D.
                      Chaired Professor of Management Science
                    INSEAD (Singapore & Fontainebleau, France)                                      ©2011 ICON Group Ltd.

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                                About the Author
Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at
INSEAD where he has taught courses on multivariate statistics and global competitive strategy
since 1988. He has also taught courses at MIT, Stanford University, Harvard University, UCLA,
UCSD, and the Hong Kong University of Science and Technology. He is the author of six books
on the economic convergence of nations. These books introduce the notion of “physioeconomics”
which foresees a lack of global convergence in economic behaviors due to physiological and
physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic
Growth" (MIT Press 2000). He has also published numerous articles in academic journals,
including The Rand Journal of Economics, Marketing Science, the Journal of International
Business Studies, Technological Forecasting and Social Change, International Journal of
Forecasting, the European Management Journal, the European Journal of Operational
Research, Journal of Marketing, International Journal of Research in Marketing, and Journal of
Marketing Research. He is also on the editorial boards of several academic journals.

Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University
of Pennsylvania and has Masters degrees in Finance and Banking (University of Aix-Marseille)
and Managerial Economics (Wharton). His undergraduate degrees are in mathematics, biology
and economics (minor in aeronautical engineering). He has consulted and/or taught courses in
Africa, the Middle East, Asia, Latin America, North America and Europe.

                                 About this Series
This series was created for international firms who rely on foreign export markets for a
substantial portion of their business or who might be threatened by foreign trade competition.
The estimates given in this report were created using a methodology developed by and under the
direct supervision of Professor Philip M. Parker, the Eli Lilly Chaired Professor of Innovation,
Business and Society, at INSEAD. The methodology, relying on historical figures of economic
growth and trade flows, estimates the market shares of some 150 countries for over 500 industrial
or product categories. The figures should be seen as market estimates, as opposed to historical
records, as these are projected for the current year of trade.

Some of the methodologies and research approaches used in this report have benefited from the
R&D Committee at INSEAD, whose research support is gratefully acknowledged. Additional
editorial assistance from Tiffany LaRochelle, ICON Group International, Inc., is also
acknowledged.                                                    ©2011 ICON Group Ltd.

                           About ICON Group Ltd.
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                                                   Contents        v

Table of Contents
1     INTRODUCTION AND METHODOLOGY                             7
2     JAPAN AND THE WORLD MARKET                               9
    2.1        Imports in Japan in 2011                        9
    2.2        Exports from Japan in 2011                     10
3     IMPORTS IN JAPAN                                        11
    3.1        Asia                                           11
       3.1.1      China                                       11
       3.1.2      Hong Kong                                   12
       3.1.3      India                                       13
       3.1.4      Indonesia                                   14
       3.1.5      Malaysia                                    15
       3.1.6      South Korea                                 16
       3.1.7      Thailand                                    17
       3.1.8      Vietnam                                     18
    3.2        Europe                                         19
       3.2.1      Austria                                     19
       3.2.2      France                                      20
       3.2.3      Germany                                     21
       3.2.4      Italy                                       22
       3.2.5      Portugal                                    23
       3.2.6      Spain                                       24
       3.2.7      Switzerland                                 25
       3.2.8      the United Kingdom                          26
    3.3        North America & the Caribbean                  27
       3.3.1      the United States                           27
    3.4        the Middle East                                28
       3.4.1      Pakistan                                    28
       3.4.2      Turkey                                      29
4     EXPORTS FROM JAPAN                                      30
    4.1        Asia                                           30
       4.1.1     China                                        30
       4.1.2     Hong Kong                                    31
       4.1.3     Malaysia                                     32
       4.1.4     Philippines                                  32
       4.1.5     Singapore                                    33
       4.1.6     South Korea                                  34
       4.1.7     Taiwan                                       35
       4.1.8     Thailand                                     36
    4.2        Europe                                         37
       4.2.1     Denmark                                      37
       4.2.2     Germany                                      38
       4.2.3     Romania                                      39
       4.2.4     Spain                                        40
       4.2.5     the United Kingdom                           41
    4.3        Latin America                                  42
       4.3.1     Ecuador                                      42
    4.4        North America & the Caribbean                  43
       4.4.1     the United States                            43                        ©2011 ICON Group Ltd.
                                                            Contents        vi

    4.5      Oceana                                                    44
       4.5.1    Australia                                              44
    4.6      the Middle East                                           45
       4.6.1    Saudi Arabia                                           45
    5.1     Disclaimers & Safe Harbor                                  46
    5.2     ICON Group Ltd. User Agreement Provisions                  47                                 ©2011 ICON Group Ltd.
                                                                       Embroidery in Japan         7

On the demand side, exporters and strategic planners focusing on embroidery in Japan face a
number of questions. Which countries are supplying embroidery to Japan? How important is
Japan compared to others in terms of the entire global and regional market? How much do the
imports of embroidery vary from one country of origin to another in Japan? On the supply side,
Japan also exports embroidery. Which countries receive the most exports from Japan? How are
these exports concentrated across buyers? What is the value of these exports and which countries
are the largest buyers?

This report was created for strategic planners, international marketing executives and
import/export managers who are concerned with the market for embroidery in Japan. With the
globalization of this market, managers can no longer be contented with a local view. Nor can
managers be contented with out-of-date statistics which appear several years after the fact. I have
developed a methodology, based on macroeconomic and trade models, to estimate the market for
embroidery for those countries serving Japan via exports, or supplying from Japan via imports. It
does so for the current year based on a variety of key historical indicators and econometric

In what follows, Chapter 2 begins by summarizing where Japan fits into the world market for
imported and exported embroidery. The total level of imports and exports on a worldwide basis,
and those for Japan in particular, is estimated using a model which aggregates across over 150
key country markets and projects these to the current year. From there, each country represents a
percent of the world market. This market is served from a number of competitive countries of
origin. Based on both demand- and supply-side dynamics, market shares by country of origin are
then calculated across each country market destination. These shares lead to a volume of import
and export values for each country and are aggregated to regional and world totals. In doing so,
we are able to obtain maximum likelihood estimates of both the value of each market and the
share that Japan is likely to receive this year. From these figures, rankings are calculated to allow
managers to prioritize Japan compared to other major country markets. In this way, all the
figures provided in this report are forecasts that can be combined with internal information
sources for strategic planning purposes.

After the worldwide summary in Chapter 2 of both imports and exports of embroidery, Chapter 3
goes into detail on imports, but for each major country of origin serving Japan. A “major” market
is defined as a country where Japan represents a substantially large share of either imports or
exports. For each major country exporting to Japan, one can thus observe how important Japan is
to that exporting country compared to other countries of the world. Chapter 4 does the same, but
for exports of embroidery originating from Japan, for each major country of destination. In doing
so, one can discover the share that Japan has in each major market; this share value is often used
as a measure of competitiveness for Japan. In all cases, the total dollar volume and percentage
share values by major trading partner are provided. Combined, Chapters 3 and 4 present a the
total picture for imports and exports of embroidery to and from Japan to and from all other major                                                       ©2011 ICON Group Ltd.
                                                                        Embroidery in Japan         8

countries in the world. "Embroidery" as a category is defined in this report following the
definition given by the United Nations Statistics Division Classification Registry using the
Standard International Trade Classification, Revision 3 (SITC, Rev. 3). The SITC code that
defined "embroidery" is 6565 . For more information on this definition, please refer to the
following web site: .

This report is updated on an annual basis. To ensure that you have the most current version,
please check the web site of ICON Group at

Important Caveat. The figures should be seen as market estimates, as opposed to historical
records, as these are forecasted for the current year of trade. More importantly, in light of the fact
that unforeseeable factors might interrupt markets in achieving their reported levels, the figures
should be seen as estimates of potential. For example, "mad cow" disease, foot-and-mouth
disease, trade embargoes, military conflicts, acts of terrorism and other events will certainly
affect the actual trade flows recorded for a variety of industry or product categories. In such
cases, the difference between the numbers given in this report and the numbers actually observed
might be interpreted as the "net loss" or "net gain" due to these exogenous events affecting
regular trade flows that would have occurred had these events not have taken place.                                                       ©2011 ICON Group Ltd.
                                                                           Embroidery in Japan          9

2.1         IMPORTS IN JAPAN IN 2011
                             Imported Embroidery in Japan, 2011
                              (Structure of Foreign Import Competition)

Country of Origin             Rank         Value (000 US$)              % Share        Cumulative %
China                             1                    20,676               54.72                 54.72
Italy                             2                     2,816                7.45                 62.17
Switzerland                       3                     2,641                6.99                 69.16
Turkey                            4                     2,367                6.26                 75.42
France                            5                     2,335                6.18                 81.60
South Korea                       6                     1,939                5.13                 86.74
India                             7                     1,860                4.92                 91.66
Austria                           8                       773                2.05                 93.70
Germany                           9                       508                1.34                 95.05
Pakistan                         10                       486                1.29                 96.33
Thailand                         11                       269                0.71                 97.05
Vietnam                          12                       228                0.60                 97.65
Taiwan                           13                       165                0.44                 98.09
the United Kingdom               14                       146                0.39                 98.47
Hong Kong                        15                       140                0.37                 98.84
Indonesia                        16                       130                0.34                 99.19
the United States                17                        97                0.26                 99.44
Portugal                         18                        91                0.24                 99.69
Spain                            19                        90                0.24                 99.92
Malaysia                         20                        29                0.08                100.00
Total                                                  37,786              100.00                100.00
    Source: Philip M. PARKER, Professor, INSEAD, copyright 2011,                                                          ©2011 ICON Group Ltd.
                                                                           Embroidery in Japan        10

2.2         EXPORTS FROM JAPAN IN 2011
                            Embroidery Exports from Japan, 2011
Country of Destination        Rank         Value (000 US$)              % Share        Cumulative %
China                             1                     6,865               53.62                 53.62
Hong Kong                         2                     2,002               15.64                 69.26
Thailand                          3                     1,966               15.36                 84.62
the United States                 4                       548                4.28                 88.90
South Korea                       5                       428                3.34                 92.24
Saudi Arabia                      6                       219                1.71                 93.95
Malaysia                          7                       169                1.32                 95.27
Denmark                           8                       119                0.93                 96.20
Taiwan                            9                       115                0.90                 97.10
Spain                            10                       104                0.81                 97.91
Philippines                      11                        91                0.71                 98.63
Singapore                        12       
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